We raised glasses and cheered to the future success of Mr. Minh’s company. I had just visited his manufacturing facility where his company ASAMLED produces light-emitting diode (LED) lights for a variety of applications. A 40 person start-up and the only LED lighting company to manufacture over 90% of the final product locally, ASAMLED had the makings of Vietnamese clean tech success story. But as the day rolled on, we began discussing the real challenges the company and industry face. Starting an energy efficiency business in a country where energy is cheap and Chinese importers (who he called ‘screw-driver innovators’) are plenty, is not easy.
He told me how ASAMLED was conducting market tests with dragonfruit farmers. Using LEDs at night, dragonfruit production could jump from four harvests a year to nine – good news for the Vietnamese farmers who supply 40% of the fruit’s market in Europe. But he explained research like this was expensive and difficult to do with limited resources. According to him, the World Bank-run Climate Innovation Center could help him advocate his technology, inform consumers and access funding to market test a host of new LED applications.
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